There are many different reasons that people may wish or be ordered to Transfer property to another. If there are mortgages owing on the property being transferred, you will need to discuss with your lender whether they require a refinance of the mortgage.
- Family Members. Stamp Duty is payable on the current market value or purchase price (if higher) so a valuation of the property is required. We will arrange for the Transfer document to be prepared and executed and attend to the lodgement.
- Due to Marriage. When a person is added to the Title of your property and it is the matrimonial home Stamp duty is usually exempt. We will arrange for you to execute the necessary exemption form and prepare the Transfer.
- Relationship Breakdown. Stamp duty is not payable when a person is being taken off the Title due to a marriage or de facto breakdown, provided there is a recognised written agreement or Court Orders made . We prepare the Transfer document and arrange for the Exemption Application to be signed.